France to Open €3.5bn Initiative for SMEs in Nigeria

The French Minister of Foreign Trade and Attractiveness, Franck
Riester, had arrived in Nigeria to open the ‘Choose Africa’
conference, a €3.5 billion initiative by the France President,
Emmanuel Macron, which is dedicated to supporting the development
of start-ups and SMEs in Africa.

Riester said the initiative would enable the continent to
benefit fully from the opportunities of the digital revolution.

A statement issued by the Press Officer of the French Embassy
Nigeria, Onyinye Madu, said the visit was a follow-up on the
priorities set by Macron during his official visit to Nigeria in
July 2018 as well as his desire to build a new partnership between
Africa and France.

According to the statement, “As the largest economy in Africa
and the economic engine of West Africa, Nigeria is indeed a major
partner for France-the first in sub-Saharan Africa with bilateral
trade amounting to a total of $4.5 billion in 2019 and $2.3 billion
in 2020, due to the COVID-19 pandemic.

‘’The minister will have several official meetings in Abuja and
Lagos to underline the importance of the bilateral economic
relationship and to prepare the summit on the financing of African
economies in Paris on May 18, 2021.’’

The objective of the minister’s mission, who will be in Nigeria
between April 12 and 14, the statement said, was also to further
strengthen the links between the French and Nigerian private
sectors.

“In this regard, the minister will have in-depth discussions
with the main Nigerian economic actors to strengthen bilateral
cooperation and investments, both in Nigeria and in France,
particularly in the logistics sector,’’ it added.

He is expected to also meet with young Nigerian entrepreneurs in
the cultural and creative sector to discuss the major role of their
country in African creativity and the development of the African
entrepreneurial ecosystem, with the support of France.

The French Minister of Foreign Trade and Attractiveness, Franck
Riester, had arrived in Nigeria to open the ‘Choose Africa’
conference, a €3.5 billion initiative by the France President,
Emmanuel Macron, which is dedicated to supporting the development
of start-ups and SMEs in Africa.

Riester said the initiative would enable the continent to
benefit fully from the opportunities of the digital revolution.

A statement issued by the Press Officer of the French Embassy
Nigeria, Onyinye Madu, said the visit was a follow-up on the
priorities set by Macron during his official visit to Nigeria in
July 2018 as well as his desire to build a new partnership between
Africa and France.

According to the statement, “As the largest economy in Africa
and the economic engine of West Africa, Nigeria is indeed a major
partner for France-the first in sub-Saharan Africa with bilateral
trade amounting to a total of $4.5 billion in 2019 and $2.3 billion
in 2020, due to the COVID-19 pandemic.

‘’The minister will have several official meetings in Abuja and
Lagos to underline the importance of the bilateral economic
relationship and to prepare the summit on the financing of African
economies in Paris on May 18, 2021.’’

The objective of the minister’s mission, who will be in Nigeria
between April 12 and 14, the statement said, was also to further
strengthen the links between the French and Nigerian private
sectors.

“In this regard, the minister will have in-depth discussions
with the main Nigerian economic actors to strengthen bilateral
cooperation and investments, both in Nigeria and in France,
particularly in the logistics sector,’’ it added.

He is expected to also meet with young Nigerian entrepreneurs in
the cultural and creative sector to discuss the major role of their
country in African creativity and the development of the African
entrepreneurial ecosystem, with the support of France.